Ryan Specialty (NYSE:RYAN) Price Target Raised to $39.00 at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its target price hoisted by Wells Fargo & Company from $31.00 to $39.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. UBS Group dropped their price objective on shares of Ryan Specialty from $52.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group lifted their target price on shares of Ryan Specialty from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods boosted their target price on shares of Ryan Specialty from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday. Piper Sandler dropped their price target on shares of Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Finally, Barclays increased their price target on shares of Ryan Specialty from $39.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.59.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $40.59 on Thursday. The business’s 50 day moving average price is $34.53 and its 200 day moving average price is $39.40. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 52.72, a PEG ratio of 0.99 and a beta of 0.61. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. Ryan Specialty has a one year low of $29.28 and a one year high of $67.69.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The company had revenue of $795.23 million during the quarter, compared to analysts’ expectations of $781.44 million. During the same period in the prior year, the business earned $0.39 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. On average, research analysts predict that Ryan Specialty will post 2.05 EPS for the current year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty’s payout ratio is currently 67.53%.

Ryan Specialty announced that its Board of Directors has initiated a share buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 120,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the acquisition, the chairman owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. This trade represents a 0.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Rogers, Jr. acquired 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average price of $35.16 per share, with a total value of $263,700.00. Following the acquisition, the director directly owned 117,933 shares of the company’s stock, valued at approximately $4,146,524.28. This represents a 6.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 130,715 shares of company stock valued at $4,263,590. 52.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYAN. Beck Mack & Oliver LLC purchased a new stake in shares of Ryan Specialty during the third quarter worth $2,818,000. Westview Management dba Westview Investment Advisors purchased a new position in shares of Ryan Specialty in the 4th quarter valued at about $2,082,000. SG Americas Securities LLC purchased a new position in Ryan Specialty in the fourth quarter worth approximately $20,776,000. Stephens Investment Management Group LLC lifted its position in shares of Ryan Specialty by 41.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,929,094 shares of the company’s stock worth $99,599,000 after purchasing an additional 566,610 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of Ryan Specialty during the 4th quarter worth about $2,823,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Key Headlines Impacting Ryan Specialty

Here are the key news stories impacting Ryan Specialty this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on Ryan Specialty to $48 from $44 and kept an outperform rating, signaling continued upside potential. Benzinga report
• Positive Sentiment: UBS lifted its target to $50 from $52 and reiterated a buy rating, suggesting analysts still see meaningful upside from current levels. Benzinga report
• Neutral Sentiment: Ryan Specialty announced that Nirvana will acquire certain assets of its Swedish subsidiary, a transaction that appears to be a limited portfolio change rather than a major companywide shift. Article link

Ryan Specialty Company Profile

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.